UPDATE: Stifel Nicolaus Raises PT to $23 on Celadon Group on FQ1 Results

Stifel Nicolaus reiterated its Buy rating on Celadon Group

and raised its price target from $22 to $23. Stifel Nicolaus noted, "Increasing our FY2013, FY2014, and FY2015 EPS estimates from $1.36, $1.54, and $1.72 to $1.40, $1.59, and $1.77, respectively. Our updated estimates include slower revenue growth than previously anticipated given the current slow economic growth rate as well as more favorable operating ratio compression than previously assumed given the company's continued sub-90 ORs resulting from the benefits of its young fleet and fuel cost vigilance." Celadon Group closed at $16.65 on Wednesday.